Public Employees Retirement System of Ohio cut its position in Welbilt, Inc (NYSE:WBT) by 41.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,162 shares of the industrial products company’s stock after selling 70,015 shares during the period. Public Employees Retirement System of Ohio owned 0.07% of Welbilt worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in WBT. Champlain Investment Partners LLC grew its position in shares of Welbilt by 2.9% in the 1st quarter. Champlain Investment Partners LLC now owns 6,345,165 shares of the industrial products company’s stock valued at $103,934,000 after buying an additional 177,290 shares during the last quarter. FMR LLC lifted its stake in shares of Welbilt by 279.6% in the first quarter. FMR LLC now owns 3,573,391 shares of the industrial products company’s stock valued at $58,533,000 after purchasing an additional 2,631,930 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Welbilt by 207.8% in the second quarter. JPMorgan Chase & Co. now owns 3,541,701 shares of the industrial products company’s stock valued at $58,083,000 after purchasing an additional 2,391,225 shares during the period. Dimensional Fund Advisors LP increased its holdings in Welbilt by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,425,057 shares of the industrial products company’s stock valued at $38,053,000 after acquiring an additional 50,038 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Welbilt by 1.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,619,942 shares of the industrial products company’s stock valued at $43,753,000 after acquiring an additional 50,000 shares in the last quarter.
A number of equities research analysts have recently commented on WBT shares. ValuEngine upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup upgraded shares of Welbilt from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $19.00 in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Welbilt has an average rating of “Buy” and an average price target of $19.67.
Welbilt stock traded up $0.25 during trading on Thursday, reaching $17.56. The company had a trading volume of 39,353 shares, compared to its average volume of 1,071,685. Welbilt, Inc has a 12-month low of $10.66 and a 12-month high of $22.41. The stock’s 50 day moving average price is $15.95 and its two-hundred day moving average price is $16.18. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 22.40 and a beta of 1.66. The company has a debt-to-equity ratio of 6.81, a quick ratio of 1.07 and a current ratio of 1.70.
Welbilt (NYSE:WBT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Welbilt had a net margin of 4.23% and a return on equity of 52.45%. The firm had revenue of $426.30 million during the quarter, compared to the consensus estimate of $427.07 million. During the same period in the previous year, the firm earned $0.20 earnings per share. Welbilt’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts expect that Welbilt, Inc will post 0.73 earnings per share for the current year.
In other Welbilt news, CEO William Johnson purchased 13,496 shares of Welbilt stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $14.82 per share, with a total value of $200,010.72. Following the completion of the transaction, the chief executive officer now directly owns 78,502 shares in the company, valued at approximately $1,163,399.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.
Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.
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